Top crypto protocols generate $1.2B in revenue after recording 9.3% monthly growth

The 10 highest-grossing crypto protocols generated $1.2 cardinal successful gross during the 30 days ending Aug. 28, representing a 9.3% summation from the erstwhile month’s full of $1.1 cardinal per DefiLlama data.

Ethena led the percent gains with a 243% gross surge, jumping from $9.46 cardinal to $32.48 million, arsenic its synthetic dollar USDe captured marketplace stock from accepted stablecoins.

The protocol’s gross enlargement of $23 cardinal represented the second-largest implicit summation among tracked applications.

Pump.fun posted the second-highest percent maturation astatine 79%, with gross climbing from $22.55 cardinal to $40.39 million.

The Solana-based memecoin launchpad benefited from continued speculation successful recently created tokens, generating an further $17.84 cardinal successful monthly fees.

Stablecoin dominance continues

Tether maintained marketplace enactment contempt humble 2.9% growth, with gross rising from $614.79 cardinal to $632.91 million.

The stablecoin issuer’s $18.12 cardinal summation represented the largest implicit summation among protocols, reinforcing its presumption arsenic the sector’s superior gross generator.

Circle ranked 2nd with gross increasing 4.5% from $197.59 cardinal to $206.4 million, adding $8.81 cardinal successful monthly fees. Combined, the 2 stablecoin issuers accounted for 70% of full crypto protocol gross during the tracking period.

Hyperliquid recorded important maturation with gross expanding 25.9% from $82.86 cardinal to $104.3 million. The decentralized perpetual speech captured an further $21.43 cardinal arsenic trading volumes accrued crossed its platform.

Mixed show crossed sectors

Sky Protocol achieved 77.5% gross growth, rising from $10.1 cardinal to $17.93 million. Jupiter reported 23.5% growth, with gross expanding from $21.95 cardinal to $27.1 million, driven by enactment successful the Solana ecosystem.

Tron recorded mean gains of 11.6%, with gross climbing from $56.21 cardinal to $62.73 million. Phantom wallet generated $22.82 million, up 9.5% from $20.84 cardinal successful the erstwhile period.

Axiom provided the sole antagonistic show among apical protocols, with gross declining 13.9% from $62.11 cardinal to $53.46 million. The cross-chain infrastructure supplier mislaid $8.65 cardinal successful monthly fees, the lone 1 successful the radical with a antagonistic result.

Revenue maturation occurs alongside the broader crypto marketplace recovery, with protocols benefiting from accrued idiosyncratic enactment and higher interest procreation crossed decentralized concern applications and trading platforms.

The station Top crypto protocols make $1.2B successful gross aft signaling 9.3% monthly growth appeared archetypal connected CryptoSlate.